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Nov 03 - 09:55 AM

USD: Even A Modest Hawkish Shift From FOMC Will Be Enough To Maintain USD Positive Momentum - MUFG

By eFXdata  —  Nov 03 - 08:56 AM

MUFG Research maintains a bullish USD bias into today's FOMC policy meeting.

"Given the scale of the moves in rates markets at the short-end of the curve, we should of course be braced for the potential of more large moves this with the FOMC announcement," MUFG notes. 

"Chair Powell has some scope to talk tougher on inflation given recent developments and given the dollar has been weaker as short-term rates globally move higher relative to the US. A sense of even a modest hawkish shift could well be enough over the short-term to maintain the current USD positive momentum, especially versus the high-beta currencies that have over-extended," MUFG adds. 

Source:
MUFG Research/Market Commentary

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